Wenger ruled out any prospect of cashing in on Walcott in the new year if the deadlock over the 23-year-old’s contract talks has not broken before the end of next month.

Arsenal appeared to come close to entertaining bids for Walcott when negotiations stalled over the summer.

However, despite having previously set a deadline of the end of 2012 for an agreement to be reached, Wenger insisted Walcott, who crowned a fine performance with the final goal in Saturday’s 5-2 derby thrashing of Tottenham, was going nowhere in January.

Asked whether the winger would be sold if the impasse continued into 2013, Wenger said simply: ‘No.’

Pressed on whether Walcott would see out the season at Arsenal come what may, he replied: ‘Yes.’

Wenger’s revelation opened up the possibility of Walcott signing a pre-contract agreement with a rival club, Liverpool and Manchester City have both been linked with him.

Asked if talks were getting closer to bearing fruit, Wenger joked: ‘If I listen to you then every day it gets more expensive. We continue in a positive way. I told you many times we have until the end of December to sort this out.’

Midfielder Jack Wilshere is hoping his England team-mate does not add to the recent exodus from the Emirates.

‘He is an English lad and great to have around the dressing room,’ said Wilshere. ‘It is up to him, the boss and the board but I hope he signs.

‘Theo has got pace and the timing of the runs is probably the best around.

‘He can play anywhere – up front, right, left, central.

‘He wants to play down the middle, so I think he will get his chance – he will just have to be patient.’